Online broker Robinhood said on Wednesday that it intends to provide customers with the ability to deposit and withdraw cryptocurrencies including dogecoin based on memes.
The trading application that is popular with young investors currently allows customers to buy, sell and store cryptocurrencies such as Bitcoin on its platform, but users cannot withdraw their assets to transfer to other wallets.
In January, Robinhood temporarily disabled a feature in its app that allowed users to instantly buy cryptocurrency securities due to volatile market conditions caused by the boom of trade shares GameStop Corp. The brokerage company faced criticism from users who could not move their assets to other companies.
As part of a series of tweets, Robinhood said that it does not currently invest in cryptocurrency and does not use customer's cryptocurrency for its own benefit. The platform is fully designed to provide the ability to deposit and withdraw cryptocurrencies including DOGE. Robinhood Crypto does not currently invest in cryptocurrency and does not use client's cryptocurrency for its own benefit.
On Tuesday, Musk tweeted his suspicions and asked Robinhood CEO Vlad Teneva to explain the broker's previous decisions to restrict trading in GameStop Corp shares and Dogecoin during the January market mania.
On Wednesday, after much attention about who is the owner of the largest Dogecoin wallet, Robinhood tweeted that it would not confirm which addresses belong to them.
For operational security reasons and to protect customer privacy, a spokeswoman for Robinhood did not immediately respond to a request for comment.
The material has been provided by InstaForex Company - www.instaforex.com